Saxo Bank reports drop in March trading volume

Saxo Bank reports drop in March trading volume

Saxo Bank, the Danish brokerage firm and a market maker, specializing in online trading, reported a monthly trading volume of $254 billion in March 2016, which is a 1.9%, compared to the previous month. Year-on-year, however, it rose 1.6%.

At the same time, the average daily volume (ADV) for March this year continued its downward trend and dropped to $11 billion – 10.6% less than in February 2016 and 3.5% less than in March last year.

The only indicator that is showing improvement in March this year are the collateral deposits for trading. They rose 3.6%, compared to February, and reached 411.64 billion. In comparison to March last year, they climbed 6.7%.

In February Saxo Bank reported a 45% increase in the trading volume and a 39% rise in the ADV over the year.

Last week some of the competitors of the Danish brokerage, such as Japan’s GMO Click Securities and FX Prime also reported drops in their trading metrics for March over the month.

Saxo Bank acts as a Market Maker and has 30,000 financial instruments available on its platforms, including forex, binary options on forex and stocks and contracts, CFDs, stocks, futures, and bonds, among others. It is headquartered in Copenhagen, Denmark, and operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa. The company is licensed and regulated by the Danish Financial Supervisory Authority (FSA) and has units that are fall under the regulation of a number of other regulatory bodies worldwide.

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